Answered: A brief note to describe SOX and why it…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sarbanes Oxley Act of 2002.
include the achievements, failure, and challenges of SOX2002.

A brief note to describe SOX and why it is enacted.

Discuss the corporate scandals that occurred before the enactment of SOX Act and how those scandals could have been avoided if SOX was in place. The second phase of your analysis should discuss the corporate scandals occurred after the enactment of SOX Act clearly highlighting why Sox could not act as a deterrent to the scandals. Do you think there are any gaps in the act or the factors that led to the scandal are just beyond the purview of the SOX Act. Challenges before the SOX act as we move forward.

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